Crude Oil Bull Trap

The monthly and weekly Crude Oil charts have been forming a 9-month triangle within a 3+ year triangle. 

Of great significance, in my opinion, was the upward price breakout in last week of a smaller symmetrical triangle. This upward breakout has now proven to be a classic bull trap.

Trade Short on rise near upper boundary of smaller triangle at 96.7 with stop loss of 100.3 for target of the lower boundary of the smaller triangle at 86.70 and the lower boundary of the bigger triangle at 80.71.